MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
KODAK INDIA PRIVATE LIMITED |
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|
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|
Formerly Known
As : |
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Registered Office
: |
3rd Floor, Klpataru Synergy, Off |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
23.08.1973 |
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|
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Com. Reg. No.: |
11-016767 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.97.345
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1973PTC016767 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK05644C |
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PAN No.: [Permanent Account No.] |
AAACK2172J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trading of Films, Paper, Cameras, chemicals and Other
Ancillary Products for the use of service to the amateur photographic market.
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|
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|
No. of Employees
: |
Not divulged by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 10430000 |
|
|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Kodak Limited UK. It is a well established having
fine track. However, the company has incurred some losses during the year
2010-11. Financial position appears to be sound. Trade relations are fair.
Business is active. Payments are regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Sagar |
|
Designation : |
Commercial Assistant |
|
Contact No.: |
91-22-67026600 |
|
Date : |
28.04.2012 |
LOCATIONS
|
Registered Office : |
3rd Floor, Klpataru Synergy, Off |
|
Tel. No.: |
91-22-64416300 |
|
Fax No.: |
91-22-66416609 |
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E-Mail : |
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|
Website : |
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PLANTS : |
·
L16, Verna Industrial Estate, Verna, ·
16, Sardarmangala Industrial Area, Tel No.: 91-8028452681 ·
79/100, Industrial Growth Centre, Malanpur
District, Tel No.: 91-7539-283308/283327 Fax No.: 91-7539-283388 |
|
|
|
|
Regional Office : |
Located at: ·
Mumbai Rachna Pawar 3rd Floor, Kalpataru Synergy,
Off. Tel No.: 91-22-66416762/91-22-66416768 Fax No.: 91-22-66416769 Email: rachna.pawar@kodak.com ·
Chennai M.T.Amuthavanan Original Products Vijaya Vauhini Complex, Tel No.: 91-44-23623086 Fax No.: 91-44-2362522 Email: mohankrishnan.amuthavanan@kodak.com ·
Chennai T.M.Prasanth Vijaya Vauhini Complex, Tel No.: 91-44-23623086 Fax No.: 91-44-2362522 Email: prasanth.mohan@kodak.com ·
Ananth A Padmanabha Survey No 63/9, Tel No.: 91-9886008642 Email: anantha.padmanabha@kodak.com ·
Kolkata 115, Tel No.: 91-33-22296529 Fax No.: 91-33-22492096 Email: rachna.pawar@kodak.com ·
S. Gowrishankar Original Products 7-20, NDR Godown Complex, Opposite. Sanant
Nagar Goods, Tel No.: 91-9866199399 Fax No.: 91-40-23811209 Email: surya.basa@kodak.com ·
Surya Basa Distributor Products 7-20, NDR Godown Complex, Opposite. Sanant
Nagar Goods, Tel No.: 91-9866199399 Fax No.: 91-40-23811209 Email: surya.basa@kodak.com ·
Vishal K J Door No. 41/724, Ground Floor, Tel No.: 91-9895708469 Email: vishal.kj@kodak.com |
DIRECTORS
(AS ON 29.09.2011)
|
Name : |
Mr. |
|
Designation : |
Managing Director |
|
Address : |
203, |
|
Date of Birth/Age : |
27.03.1962 |
|
Date of Appointment : |
13.10.2005 |
|
DIN No.: |
00399691 |
|
|
|
|
Name : |
Mr. Rajiv Ramesh Mehta |
|
Designation : |
Director |
|
Address : |
602, 6th Floor, Vidharbha Smarat, |
|
Date of Birth/Age : |
13.05.1957 |
|
Date of Appointment : |
15.06.2007 |
|
DIN No.: |
01653406 |
|
|
|
|
Name : |
Mr. Sankaranarayanan S. Thiruvannathapuram |
|
Designation : |
Alternate Director |
|
Address : |
Flat No.11, Shikha Appartments, 1st Floor, 14 Golf Links, |
|
Date of Birth/Age : |
04.12.1963 |
|
Date of Appointment : |
14.02.2011 |
|
DIN No.: |
02191006 |
|
|
|
|
Name : |
Mr. Haiqun Chen |
|
Designation : |
Director |
|
Address : |
RM 34-35, No.61, Dong AN ER CUN Xuhui District |
|
Date of Birth/Age : |
04.06.1969 |
|
Date of Appointment : |
14.02.2011 |
|
DIN No.: |
03380483 |
|
|
|
|
Name : |
Mr. Lois Matthieu Lebegue |
|
Designation : |
Additional Director |
|
Address : |
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|
Date of Birth/Age : |
16.02.1968 |
|
Date of Appointment : |
16.02.2012 |
|
DIN No.: |
05197020 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar |
|
Designation : |
Commercial Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kodak Limited, |
|
9734506 |
|
Kodak Limited Jointly with Kodak International Finance Limited, |
|
2 |
|
|
|
|
|
Total |
|
9734508 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trading of Films, Paper, Cameras, chemicals and Other
Ancillary Products for the use of service to the amateur photographic market. |
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity# |
Actual Production |
|
|
|
|
|
|
|
Films |
Sq. Meters |
10.96 million |
3.73 million |
3.47 million |
|
Chemicals |
Customer Litres |
25 million |
36 million |
14.06
million |
# Installed Capacity is as certified by the
Management and accepted by the Auditors without verification, being a technical
matter
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management. |
|
|
|
|
Bankers : |
· Citi Bank N.A. ·
HDFC
Bank Limited, Sandoz House, ·
Corporation
Bank, Industrial
Finance Branch, Bharat House, Ground Floor, Samachar Marg, Mumbai - 400 006, |
|
|
|
|
Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountant |
|
Address : |
252, Veer
Savarkar Marg, 2nd Floor, |
|
PAN No.: |
AAEFP3641G |
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|
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Holding Company : |
Kodak Limited, |
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|
|
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Ultimate Holding Company : |
Eastman Kodak Company, |
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|
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|
Parties Under
Common Control : |
·
Kodak (Australasia) Pty. Limited, ·
Kodak ( ·
Kodak Electronic Products ( ·
Kodak (Hong Kong) Limited, ·
Kodak Korea Limited, ·
Kodak ( ·
Eastman Kodak Sarl, ·
Kodak Export De Mex (AV), ·
Kodak ( ·
Kodak Japan Limited, · Nexpress Solutions Inc., U.S.A ·
Kodak SA/NV, ·
Kodak ( ·
Company Limited, ·
Kodak ( ·
Kodak Graphic Communications GMBH, ·
Kodak IL Limited, ·
Kodak Netherland, B.V., ·
Kodak Versamark Inc., · Kodak Graphics Communications Canada Company ·
Kodak Philippines Limited, ·
Kodak Polychrome Graphics LLC, ·
Kodak Polychrome |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 millions |
|
500000 |
Preference |
Rs.415/- each |
Rs.207.500 millions |
|
|
|
|
|
|
|
Total |
|
Rs.327.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9734508 |
Equity Shares |
Rs. 10 each |
Rs.97.345
millions |
|
|
|
|
|
NOTE:
1. As at March 31, 2011, 9734506 Equity Shares
of Rs.10/- each are held by Kodak Limited,
2. of the above, Equity Shares were issued as
fully paid bonus shares by capitalization of securities Premium Rs.14.065
Millions and general Reserve Rs.3.185 Millions.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
97.345 |
97.345 |
97.345 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2510.241 |
2647.574 |
2471.167 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2607.586 |
2744.919 |
2568.512 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2607.586 |
2744.919 |
2568.512 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
139.470 |
143.522 |
161.517 |
|
|
Capital work-in-progress |
0.000 |
1.364 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
692.048 |
1097.443 |
494.662 |
|
|
DEFERREX TAX ASSETS |
72.608 |
128.482 |
200.788 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
719.273
|
1050.539 |
1192.506
|
|
|
Sundry Debtors |
659.587
|
517.076 |
468.042
|
|
|
Cash & Bank Balances |
914.287
|
1163.535 |
1255.557
|
|
|
Other Current Assets |
15.182
|
10.666 |
22.409
|
|
|
Loans & Advances |
829.585
|
877.709 |
686.391
|
|
Total
Current Assets |
3137.914
|
3619.525 |
3624.905 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1052.695 |
1747.863 |
1259.690 |
|
|
Other Current Liabilities |
156.657
|
118.730 |
110.186
|
|
|
Provisions |
225.102
|
378.824 |
543.484
|
|
Total
Current Liabilities |
1434.454
|
2245.417 |
1913.360
|
|
|
Net Current Assets |
1703.460
|
1374.108 |
1711.545
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2607.586 |
2744.919 |
2568.512 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7832.935 |
8029.055 |
8328.639 |
|
|
|
Other Income |
NA |
346.008 |
371.864 |
|
|
|
TOTAL (A) |
NA |
8375.063 |
8700.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
7000.677 |
7252.922 |
|
|
|
Manufacturing, Selling and Administrative Expenses |
|
833.794 |
1136.664 |
|
|
|
Restructuring Cost |
|
0.000 |
3.159 |
|
|
|
TOTAL (B) |
|
7834.471 |
8392.745 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Not Available |
540.592 |
307.758 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.527 |
0.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
96.145 |
540.065 |
307.090 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.348 |
28.989 |
34.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
68.797 |
511.076 |
272.951 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(68.536) |
192.309 |
114.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
137.333 |
318.767 |
158.715 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
706.853 |
548.138 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
31.877 |
0.000 |
|
|
|
Interim Dividend |
NA |
121.681 |
0.000 |
|
|
|
Tax on Dividend |
NA |
20.680 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
851.382 |
706.853 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
34.226 |
76.987 |
92.787 |
|
|
TOTAL EARNINGS |
34.226 |
111.213 |
169.774 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
439.241 |
553.338 |
816.544 |
|
|
|
Capital Goods |
0.260 |
1.741 |
1.153 |
|
|
|
Finished Goods |
4640.481 |
4810.376 |
4515.228 |
|
|
TOTAL IMPORTS |
5079.982 |
5365.455 |
5332.925 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.11 |
32.75 |
15.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
3.81 |
1.82
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.88
|
6.37 |
3.28
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.10
|
13.58 |
7.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.19 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
0.82 |
0.74
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
1.61 |
1.89
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
-
Creditors Due Small Micro |
9.395 |
3.691 |
7.373 |
|
-
Creditors Due Others |
1043.300 |
1744.172 |
1252.317 |
|
|
|
|
|
|
Total |
1052.695 |
1747.863 |
1259.690 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
OPERATIONS
The Company has earned a net loss of Rs.137.333 Millions after tax and
Rs.27.348 Millions provided for depreciation.
The Gross Sales for the year ended 31st March, 2011 were
Rs.7832.935 Millions as against Rs.8095.640 Millions for the year ended 31st
March, 2010. On overall basis there is an decrease of 3.25% sales when compared
with last year.
The loss before taxation was Rs.68.797 Millions for the year ended 31st
March, 2011 as compared to Profit Before Taxation Rs.511.076 Millions for the
year ended 31st March, 2010.
FIXED ASSETS:
·
· Leasehold Improvements
· Buildings
· Machinery and Equipments
· Furniture, Fixture and Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.